Waterfall DeFi
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Waterfall DeFi

Waterfall Development Updates #3

Introduction

If you have been following our social media updates, we have been working non-stop at Waterfall DeFi! From our IEO, airdrop campaigns, AMAs, and other announcements, we’ve been pushing hard to get to mainnet launch. Let’s reflect on what happened last week and learn more about our upcoming release in Waterfall Development updates #3!

Let’s get started.

Recapping the IEO

After months of planning, we have announced our first ever Initial Exchange Offering on AscendEx, as well as provided liquidity on PancakeSwap. Launched on the 21st of October, the Waterfall token ($WTF) is our native token that can be used to facilitate the protocol’s governance, reward platform users, align community incentives, and capture fee revenue generated by the platform.

AscendEX IEO Public Sale Details

Date Launched: 21 Oct 2021

Total Tokens Allocated: 500,000

Listing Price: 1 WTF = 0.35 USDT

Token Sale Format: Auction

We have raised $253,000 in total from our IEO with our standard offering raising at a $35 Million valuation while our auction offering was raised at $135 Million valuation.

We would like to thank our community for their support, this is a huge milestone for the project and the team is now focused on building!

To learn more about our tokenomics, incentives, and rewards, click here.

About The Airdrop

As we have reiterated many times, our core focus at Waterfall DeFi is the community. Every move we make is geared towards rewarding the people that have supported us thus far, and what’s a better way to do it than through an airdrop program to directly thank our community?

To mark our IEO we did an impromptu airdrop where we gave away users $1,000 worth of $WTF Tokens at IEO Price!!

The airdrop was a success — the tweet generated thousands of organic retweets and likes! The campaign has concluded on the 27th of October, with all winners being contacted and mentioned in our twitter profile.

New Content Released!

We are excited to let you know we have released two new videos about Waterfall DeFi! They are made by our content partners and friends. Be sure to watch and share them with your circles!

Huge shoutout to Angelica and CryptoNaut team for introducing our project to the Web3 Community!!

Ser, Wen Mainnet?

In our last update, we announced that we were working on our product that is still in testnet. This week, we’re currently doing QA on Mainnet and final audit review. The team can’t wait to unveil the final release to the community. We have made significant progress on our roadmap since:

  1. Completed the development of our first Stablecoin tranched product.
  2. Received a preliminary audit review from Slowmist, a highly recognized smart contract audit firm.
  3. Continuing to test our product until Mainnet launch!
An infographic showing which stage we are at now!

Regarding the recent C.R.E.A.M. finance exploit, the team is fully aware of the situation. Security is a key consideration in our product portfolio construction as we are re-evaluating our composition. We hope to come back with an update on the above next week.

More details about the Mainnet launch and go-live date will be shared soon! In the meantime, here’s a sneak peek of what our product will look like:

To stay updated, please bookmark Waterfall DeFi’s website, follow us on Twitter, and join our communities on Telegram and Discord!

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Waterfall DeFi

Waterfall DeFi

Bringing true risk tranching to Decentralized Finance